Get all your news in one place.
100's of premium titles.
One app.
Start reading
Newcastle Herald
Newcastle Herald
National

Petrol prices could rise by up to 27c/l after Saudi oil facility struck

NRMA says possible impacts of the weekend's drone strike on a Saudi oil facility are "not imminent". Picture: Marina Neil

Motorists may not immediately see local petrol prices impacted by last weekend's drone strike in the Middle East, which severely damaged a major Saudi oil facility, NRMA says.

The motorists' advocacy organisation said in its weekly fuel prices report that any effect the attack on the Abqaiq plant would have on the cost of fuel in Australia was "not imminent", however rises by up to 27c/l could be in store in the coming months.

According to the latest figures for the week ending September 15, the average price of unleaded petrol increased by 13.3c/l in Newcastle (149.0c/l) and 20.4c/l on the Central Coast (151.8c/l).

This rise was in line with last week's Sydney price cycle movements, according to NRMA.

Average prices remained stable in the Hunter Valley, with Maitland recording a 0.4c/l drop (134.7c/l), Singleton experiencing a 0.4c/l increase to 139.6c/l and no change at Muswellbrook, which remained at 139.6c/l.

Maitland was the location with the fourth cheapest average unleaded petrol price in NSW for the week ending September 15, while the Central Coast was ranked fourth most expensive.

NRMA said impacts of the drone strike in Saudi Arabia, which reportedly affected an estimated five per cent of the world's daily oil supply, could mean a petrol price rise in the coming months.

It said oil experts were predicting the price of crude oil could jump to between US$80 and US$90 per barrel - such a change would mean Australian motorists would see a cost increase between 17c/l and 27c/l at the pump.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.